thomasil74 wrote:Chase 1 Balance = $9,000 @ 6.5% Credit Line = $14,600 (62% used)Chase 2 Balance = $4,000 @6.5 % Credit Line = $7,000 (57% used)US Bank Balance = $3,500 @ 7.8 % Credit Line = $5,700 (61% used)Citibank Balance = $4,500 @ 9.9 % Credit Line = $7,190 (63% used)
Message Edited by thomasil74 on 07-10-2007 08:02 PM
Message Edited by thomasil74 on 07-10-2007 08:03 PM
Message Edited by thomasil74 on 07-10-2007 08:04 PM
I would not recommend closing any of your CC accounts that you pay off. You'll most likely get dinged for lowering your overall utilization with any accounts closed.
FICOnater2007 wrote:If it were me, I'd knock out these two:US Bank Balance = $3,500 @ 7.8 %Citibank Balance = $4,500 @ 9.9 %They have the highest interest rates and you'll be paying for this "$8000.00" than you will on the other two balances. Then I'd close those two accounts and leave the other two open. Take the $2000 (out of your $10K) and stick that in the bank. When you apply for credit they will ask about checking / savings accounts and balances anyway.You could use the $2K to help with a downpayment or for additional expenses after you get a home. Have you looked into any zero down homes or new homeowner programs?Good luck,FICOnater2007